#AUDUSD approaching pivot, potential for a bounce!
Description
Price is approaching pivot level of 0.73224, which is in line with 161.8% Fibonacci extension levelhorizontal overlap support. A reversal from this level may see price take resistance at price 0.7287. This level coincides with 100% Fibonacci extension levelhorizontal overlap resistance. Finally, we can expect price to take support at 0.73724100% Fibonacci extension levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.73224
Why we like it:
161.8% Fibonacci extension level horizontal overlap support
1st Support:
0.73724
Why we like it:
100% Fibonacci extension level horizontal overlap support
1st Resistance:
0.72870
Why we like it:
100% Fibonacci extension level horizontal overlap resistance
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 0.73224, which is in line with 161.8% Fibonacci extension levelhorizontal overlap support. A reversal from this level may see price take resistance at price 0.7287. This level coincides with 100% Fibonacci extension levelhorizontal overlap resistance. Finally, we can expect price to take support at 0.73724100% Fibonacci extension levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.73224
Why we like it:
161.8% Fibonacci extension level horizontal overlap support
1st Support:
0.73724
Why we like it:
100% Fibonacci extension level horizontal overlap support
1st Resistance:
0.72870
Why we like it:
100% Fibonacci extension level horizontal overlap resistance
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.